Together, the companies will explore the development of lithium-based battery packs for use in Trojan''s key market segments, which include renewable energy, golf, transportation, floor machine, aerial work platform, marine and recreational vehicles, the release stated.

According to the release, this strategic partnership enables Trojan to expand its portfolio of battery offerings to meet evolving customer demands for applications requiring lithium-based technology.

"As industry leaders in the development of innovative battery technologies, the partnership between Trojan and Palladium will allow us to provide the market the most advanced battery solutions to support the evolving needs and demands of Trojan customers," said Mat Segal, senior vice president of global business development at Trojan Battery Company.

"Broadening Trojan''s product portfolio to include lithium-based solutions also better enables the company to expand Trojan''s reach into new and evolving industry segments worldwide," Segal added.